XRI Holdings’ Acquisition of Produced Water Infrastructure from Hibernia Energy III

Baker Botts LLP advised Hibernia Energy III, LLC (“Hibernia”) and its wholly owned subsidiary, Celtic Disposal LLC on the deal while Sidley Austin LLP represented XRI Holdings, LLC.

XRI Holdings, LLC (“XRI” or the “Company”), the leading full-cycle water management and midstream company with fixed infrastructure owned throughout the Permian Basin, announced that it has acquired the produced water infrastructure assets of Hibernia Energy III, LLC (“Hibernia”) through its wholly-owned subsidiary, Celtic Disposal, LLC (“Celtic”).

Through this transaction, XRI will become the long-term provider to Hibernia of all water-related services to Hibernia, including delivery of completions water and handling of produced water.

In addition, this acquisition enables XRI to capture significant third-party opportunities in the area with both new and existing customers.

Sidley Austin LLP served as legal counsel to XRI on the transaction and Baker Botts LLP served as legal counsel to Hibernia.

The Baker Botts team included: Larry Hall (Partner, Dallas, Picture), Jon Platt (Partner, Dallas), Kyle Doherty (Associate, Houston), Megan Young (Associate, Houston), Steve Marcus (Partner, Dallas), Jordan Hahn (Senior Associate, Dallas).

The Sidley team was led by partner Tim Chandler and senior counsel Glenn Pinkerton, with support from associates Alex Tanton and Brian DiFilippo. The team also included partners Daniel Allison, Heather Palmer (Environmental), and Zackary Pullin (Tax), counsel Scott Goldstein, and associates Andy Chen and Kevin Carson.

Involved fees earner: Kyle Doherty – Baker Botts LLP; Jordan Hahn – Baker Botts LLP; Larry Hall – Baker Botts LLP; Stephen Marcus – Baker Botts LLP; Jonathan Platt – Baker Botts LLP; Megan Young – Baker Botts LLP; Daniel Allison – Sidley Austin LLP; Kevin Carson – Sidley Austin LLP; Timothy Chandler – Sidley Austin LLP; Andy Chen – Sidley Austin LLP; Brian DiFilippo – Sidley Austin LLP; Scott Goldstein – Sidley Austin LLP; Heather Palmer – Sidley Austin LLP; Glenn Pinkerton – Sidley Austin LLP; Zackary Pullin – Sidley Austin LLP; Alexander Tanton – Sidley Austin LLP;

Law Firms: Baker Botts LLP; Sidley Austin LLP;

Clients: Hibernia Energy III, LLC; XRI Holdings, LLC;

Author: Martina Bellini